SBI General Insurance, one of India’s leading general insurance companies, announced a tie-up with Manipal Business Solutions to increase insurance penetration in the rural markets.
SahiPay, the fastest growing tech-enabled financial inclusion platform of Manipal Business Solutions, provides digital and financial services to customers in semi-urban and rural India.
Through this partnership, SBI General will provide a bouquet of non-life insurance solutions to SahiPay customers.
Pushan Mahapatra, President – Strategic Investments & Head – Open Market, SBI General Insurance said, “At SBI General, we always aim to plug-in digital model in our rural markets with respect to insurance offerings. The tie-up with Sahipay is the right fit and has come at an appropriate time to support us in our endeavour to maximize our reach to rural segments.”
Kamaljeet Rastogi, CEO, Manipal Business Solutions said, “India is predominantly rural with more than 65% of the population residing in rural areas. To make rural population aware of the benefits of insurance, focused efforts and innovative, affordable, technology-based insurance products that provide adequate risk coverage are required. SBI General Insurance will help us provide comprehensive and accessible set of insurance offerings to our customers.”
SBI General Insurance closed the financial year 2020-21 with a Gross Written Premium (GWP) of Rs 8,312 crore with a growth of 22% and net profit of the company rose by 32%.